does not work. so, what does sorry, john. we are, grady is a standing by with us, john and i will chew on this more, but grady in from chicago. everybody is talking about whether or not this would actually work if imposed. what are you hearing? they are, and sandra, you know, this $0.18 a gallon federal gas tax holiday, how much you would save really assumes that the suppliers would pass that discount on to the end customer and according to that study you referenced from wharton and others, evidence that wouldn t be the case. simplicity sake, take $0.18 a gallon and fill up a toyota camry from empty. what you would save would be less than $3 a gallon, if you drive a pickup truck like an f-150, what you would save under federal gas tax holiday would be around 4.75 to fill up your
whole tank. drivers we talked to here today, they say that a few bucks here and there even if that is what they would save just doesn t cut it. any little bit helps right now because $0.18 is $0.18 a gallon when you are, you know, filling up your car for 100 bucks, but it s not enough for me to think it s worth it. they need to figure out a better way to get the gas prices down to something normal because i mean, gas is basically a bill now, higher than my light bill and my gas bill at home. and to your point, sandra, we also talked to gas buddy about the impact this could have on demand and his concern is that it s going to drive up demand because prices could go down a little bit, then people would be more inclined to buy more gas, and supply is not changing. it s still staying relatively low in most areas, so it could
sandra: america s energy crisis, president biden will ask congress to suspend the gas tax for summer. critics say it will have little impact on american wallets and could make the inflation situation worse. hello, welcome, everyone, i m sandra smith in new york. hi, john. john: i m john roberts in washington and this is america reports. the president will request a three month suspension of the gas tax through september, currently $0.18 a gallon for gasoline. $0.24 a gallon for diesel. studies show a move like this does not save people all that much money but does cost the government billions of dollars in revenue. sandra: former president obama famously called it a gimmick in 2008, and all of this as we expect president biden to pin the blame once again on his
i call on the companies to pass this along, every penny of this $0.18 reduction to the consumers. this is there s no time now for profiteering. there are other proposals in the house and senate and i hope my call for action can move those forward as well. but we can also cut gas prices even more in another way. that s why the second action i m taking is calling on states to either suspend the state gas tax as well or find other ways to deliver some relief. state gas taxes average $0.30 per gallon. already, some states have acted. in connecticut and new york, governors have temporarily suspended their gas tax as well. illinois and colorado, governors delayed theirs to give families a bit more breathing room as well. in minnesota, governor walz,
$0.18 a gallon for gasoline, $0.24 for diesel and sandra, particularly interesting, the president calling on the states to do the same thing with the state gas tax, and in the commonwealth of virginia, where the governor wanted the state gas tax lifted for a holiday, democrats in the senate refused to do it, one democratic senator saying we finally have enough money to maintain, fix and repair the roads in virginia, why would we take the tax off now. at one point the background behind the president changed, you notice the video screen, what it was, at the point where he railed on the putin price hike idea for raising gas prices to where they are today, there was a ukrainian flag there, and almost the case if you complain about rising gas prices that you are somehow against helping ukraine. very confusing how he laid that out there, but he did make the official announcement. he said at one point let s be honest here and john i think anybody listening, any american